National Gas Company on Tuesday announced that its ongoing negotiations with Saudi-based National Gas & Industrialization Co (GASCO) regarding a proposed joint venture (JV) in Saudi Arabia have been called off.
Assuring its shareholders, National Gas Company, in a disclosure to the Muscat Securities Market, said that the termination of Saudi joint venture talks is not expected to have any material adverse effect on its current operations in the kingdom.
National Gas Company and GASCO had signed a memorandum of understanding (MoU) in March 2018 to jointly explore the feasibility of expanding the LPG distribution, projects installations and trading of related equipment business in Saudi Arabia.
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